What was the total balance for Clear Pest Pros as of December 31, 2022, after restatement?
Clear_Pest_Pros Franchise · 2025 FDDAnswer from 2025 FDD Document
| Common Stock | Additional Paid-in Capital | Retained Earnings (Accumulated Deficit) | Total | |
|---|---|---|---|---|
| Balance, January 1, 2022 Consolidated net loss | $ 5 - | $ 114,238 - | $ 7,782 (6,330) | $ 122,025 (6,330) |
| Balance, December 31, 2022 (as restated) Cumulative effect of change in accounting principle (Note 4) Consolidated net loss | 5 - - | 114,238 - - | 1,452 (1,035) (44,277) | 115,695 (1,035) (44,277) |
| Balance, December 31, 2023 Consolidated net loss | 5 - | 114,238 - | (43,860) (11,108) | 70,383 (11,108) |
| Balance, | $ 5 | $ 114,238 | $ (54,968) | $ 59,275 |
| December 31, 2024 |
| December 31, | 2024 | 2023 | 2022 (as restated) |
|---|---|---|---|
| Assets | |||
| Current Assets Cash Restricted cash Accounts receivable, net Inventory (Note 6) Notes receivable, current portion net of allowance (Note 7) Prepaid expenses and other current assets | $ 1,242 1,310 2,728 8,673 578 454 | $ 3,701 781 2,338 5,683 639 625 | $ 1,372 345 3,074 4,393 1,661 346 |
| Total Current Assets | 14,985 | 13,767 | 11,191 |
| Right-of-Use Assets, Net | 2,036 | 3,098 | 1,379 |
| Property and Equipment, Net (Note 8) | 1,675 | 2,220 | 1,701 |
| Goodwill (Note 9) | - | 10,519 | 56,056 |
| Intangible Assets, Net (Note 9) | 23,789 | 28,264 | 32,566 |
| Other Assets Notes receivable - net of current portion and allowance (Note 7) Amounts due from related parties (Note 14) Deferred commissions Other noncurrent assets | 793 27,182 649 347 | 1,336 24,688 871 216 | 2,747 23,843 1,155 331 |
| Total Assets | $ 71,456 | $ 84,979 | $ 130,969 |
| Liabilities and Stockholders' Equity Current Liabilities Accounts payable Operating lease obligation, current portion (Note 10) Deferred revenue, current portion Accrued and other current liabilities: Accrued compensation Other accrued liabilities | $ 812 1,087 1,945 580 1,147 | $ 203 1,002 1,305 1,201 2,251 | $ 855 1,145 2,050 1,256 1,678 |
| Total Current Liabilities | 5,571 | 5,962 | 6,984 |
| Operating Lease Obligation, net of current | 1,087 | 2,166 | 425 |
| portion (Note 10) | |||
| Other Long-Term Liabilities Deferred revenue, net of current portion Deferred tax liabilities (Note 11) | 1,900 3,623 | 3,202 3,266 | 4,864 3,001 |
| Total Liabilities | 12,181 | 14,596 | 15,274 |
| Stockholders' Equity | 59,275 | 70,383 | 115,695 |
| Total Liabilities and Stockholders' Equity | $ 71,456 | $ 84,979 | $ 130,969 |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 67)
What This Means (2025 FDD)
According to Clear Pest Pros's 2025 Franchise Disclosure Document, the total balance as of December 31, 2022 (as restated) was $115,695. This figure represents the stockholders' equity. Additionally, the cumulative effect of the change in accounting principle resulted in a balance of ($1,035), and the consolidated net loss was ($44,277).
It's important to note that the total assets for Clear Pest Pros as of December 31, 2022 (as restated) amounted to $130,969. This figure is comprised of current assets ($11,191), right-of-use assets, net ($1,379), property and equipment, net ($1,701), goodwill ($56,056), intangible assets, net ($32,566), and other assets ($27,076).
Furthermore, the total liabilities for Clear Pest Pros as of December 31, 2022 (as restated) were $15,274. This includes total current liabilities of $6,984, operating lease obligation, net of current portion ($425), and other long-term liabilities ($7,865). Understanding the composition of assets, liabilities, and equity provides a comprehensive view of Clear Pest Pros's financial position at the end of 2022.